Novanta Inc. (NASDAQ:NOVT) Shares Sold by Signaturefd LLC

Signaturefd LLC lowered its stake in Novanta Inc. (NASDAQ:NOVT) by 35.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 233 shares of the technology company’s stock after selling 128 shares during the period. Signaturefd LLC’s holdings in Novanta were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOVT. Vanguard Group Inc. lifted its stake in Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Novanta in the 1st quarter valued at about $780,000. SG Americas Securities LLC grew its position in shares of Novanta by 750.4% during the 1st quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock valued at $2,724,000 after buying an additional 13,755 shares during the last quarter. Clearline Capital LP raised its stake in Novanta by 71.1% during the second quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock worth $1,875,000 after acquiring an additional 4,778 shares during the period. Finally, Raymond James & Associates lifted its holdings in Novanta by 3.5% in the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after acquiring an additional 1,720 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their target price on Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $173.65 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. The firm has a market capitalization of $6.23 billion, a PE ratio of 89.97 and a beta of 1.28. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.12. The business’s fifty day moving average price is $175.30 and its two-hundred day moving average price is $169.10.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to analysts’ expectations of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. On average, research analysts expect that Novanta Inc. will post 3.3 EPS for the current year.

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total value of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $21,729,608.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 9,150 shares of company stock worth $1,608,936. Company insiders own 1.20% of the company’s stock.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.